With Verizon and AT&T both dumping their unlimited smartphone data plans, the nations fourth biggest wireless carrier T-Mobile has announced today that starting on July 24 it will offer an "unlimited" smartphone and laptop data plan. What's the catch? While there are technically no broadband caps or overage fees, T-Mobile will be limiting the speeds that you can get data beyond a certain point.

Today's press release announces that T-Mobile will offer what it is calling its "Value" plans that will give new customers unlimited phone and texting along with "high speed" data with 2 GB, 5 GB and 10 GB limits on its smartphones and USB laptop sticks. Pricing for these plans has yet to be announced but T-Mobile claims that its customers can save "hundreds of dollars annually" under these new plans. If you go over the "high-speed" caps you can still get data from T-Mobile's phones and laptop sticks but at a lower speed. Exactly how much slower has also yet to be announced. T-Mobile did give one example of pricing under its Value plans stating that users can pay $49.99 a month per line for two lines and with a 2 GB "high speed" limit.

And what about Sprint, the third largest wireless carrier in the US and now the only one out of the four that truly offers a no limit data plan? Engadget reports that its CEO Dan Hesse doesn't see Sprint changing that stance in the near future although he added "nothing is guaranteed forever". He also stated that Sprint plans to make some 4G announcements sometime this fall.